SK Group to Invest Billions in AI and Memory Chips with Ambitious Goals

TapTechNews June 30th, according to Bloomberg, SK Group issued a statement today. SK Hynix plans to invest 103 trillion Korean won (TapTechNews note: currently about 543.325 billion yuan) by 2028 to bet on the field of AI artificial intelligence, of which about 80%, that is, 82 trillion Korean won (currently about 432.55 billion yuan) will be used for HBM memory chips.

In addition, SK Telecom and SK Broadband will also invest 3.4 trillion Korean won (currently about 17.935 billion yuan) in their data center business.

It is introduced that this plan was put forward after the chairman of SK Group, Choi Tae-won, and about 20 senior management held the annual strategic meeting, conducted a marathon discussion lasting for 20 hours, to explore the development direction of the group.

SK Group's goal is to obtain 80 trillion Korean won (currently about 422 billion yuan) in revenue through operations and business reforms by 2026, and to ensure 30 trillion Korean won (currently about 158.25 billion yuan) in free cash flow within three years and keep the debt-to-equity ratio below 100%.

The statement said that the group suffered a loss of 10 trillion Korean won (currently about 52.75 billion yuan) last year, and it is expected to achieve a pre-tax profit of 22 trillion Korean won (currently about 116.05 billion yuan) this year, aiming to increase the pre-tax profit to 40 trillion Korean won (currently about 211 billion yuan) by 2026.